Home News Clear sales tax refund to increase textile exports says government

Clear sales tax refund to increase textile exports says government

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Clear sales tax refund to increase textile exports
Clear sales tax refund to increase textile exports

All Pakistan Textile Processing Mills Association (APTPMA) on January 11, 2018, asked the government to clear the pending sales tax refunds and ensure smooth provision of LNG to textile processing units.

“The government should resolve these two issues to enhance the textile exports” said a representative of APTPMA after holding meeting with Adviser to Prime Minister on Finance, Dr. Miftah Ismail. The delegation was led by Zubair Motiwala. Adviser Miftah Ismail assured the APTPMA representatives of all possible support to resolve their problems. He said that the issues are already under active consideration of the government and appropriate decisions will be taken soon.

PML-N President and former Prime Minister Mohammad Nawaz Sharif recently directed Miftah Ismail to clear the 100% sales tax refunds of the textile sector by February 15 this year. The PML-N chief also directed Miftah to reduce the gas prices to address the concerns of the industrialists, who are worried about gas prices and Gas Infrastructure Development Cess (GIDC). The government had already accepted one of the major proposals of the exporters to devalue the rupee by 5% against the US dollar that would help in enhancing the exports.

It was further informed that the government is taking policy directives on key economic decisions for the upcoming general elections 2018. The government wants to enhance the exports. Pakistan’s exports were recorded at $11 billion during July-December of the year 2017-18 as compared to $9.9 billion of the corresponding period of the last year, showing a growth of 11.24%.